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    • Joe33
    • By Joe33 12th Feb 18, 10:50 PM
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    Joe33
    Advice please?
    • #1
    • 12th Feb 18, 10:50 PM
    Advice please? 12th Feb 18 at 10:50 PM
    Hi All.

    Not sure how any of this works but here goes...

    I moved into my home with my ex-partner in 2011. It was originally hers at the start. I was under the impression that i was also on the tenancy but found out that i wasn't several years later, the housing people said it was their mistake. I got added in 2015. My relationship broke down and at the start of 2017 my partner moved away and gave up the tenancy.

    Now my parents are looking to move in to my home but i need to know how this all works. I'm going to go into buying the home but would i be able to rent it out to them straight away? Another option is them giving me the money to buy the home outright or atleast put down a 50% deposit. I don't want to lose the home so it all has to be legit and nothing hidden.

    What are my options? Do you guys have any advice?

    Thanks!
Page 1
    • Cakeguts
    • By Cakeguts 13th Feb 18, 12:04 AM
    • 4,180 Posts
    • 5,908 Thanks
    Cakeguts
    • #2
    • 13th Feb 18, 12:04 AM
    • #2
    • 13th Feb 18, 12:04 AM
    Where do your parents live now? Why would they want to rent is from you? Where would you live? If you are living in social housing your parents will not be added to the tenancy if they already own a home.

    If you want to let a property you need to have a buy to let mortgage not a normal residential one.
    • Joe33
    • By Joe33 13th Feb 18, 12:35 AM
    • 4 Posts
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    Joe33
    • #3
    • 13th Feb 18, 12:35 AM
    • #3
    • 13th Feb 18, 12:35 AM
    Sorry, maybe i should of been a bit better at explaining.

    My parents own a shop which they live above but are selling, not sure on what finances they will have once sold. I'd move in with my new partner. I won't do anything thats against the rules so if i have to then i would stay here without a problem. Another question.. If that was the case, would they be able to stay with me?
    • Cakeguts
    • By Cakeguts 13th Feb 18, 12:59 AM
    • 4,180 Posts
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    Cakeguts
    • #4
    • 13th Feb 18, 12:59 AM
    • #4
    • 13th Feb 18, 12:59 AM
    If this is social housing that you are living in your parents will not be able to become tenants while they have somewhere to live. The owner of the housing has to accept your parents as tenants in order for them to be on the lease.

    The only person who has the right to buy or right to acquire is the tenant. So if you wanted to buy they would have to give you the money to buy. If you let the property you would need a buy to let mortgage.

    Does the housing owner know that your partner has moved out? Did she inform the owner of the housing that you are in that she has moved out?
    • Joe33
    • By Joe33 13th Feb 18, 1:24 AM
    • 4 Posts
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    Joe33
    • #5
    • 13th Feb 18, 1:24 AM
    • #5
    • 13th Feb 18, 1:24 AM
    They have not moved in yet and won't do for another few months. I won't do anything unless its legit.
    The housing people know my partner left last year.. it was all done correctly and i'm the only one listed now. I did read somewhere that the tenancy could only be edited once which it was to add me a few years ago..

    So if i got a mortgage, it would have to be a buy to let? What if they wanted to move in with me? I've read that immediate family are allowed to move in with me, which would be the case as its my parents.

    Just looking for some help on this, if its a bad situation then they would have to find somewhere else to go but i was trying to help them out.
    • 00ec25
    • By 00ec25 13th Feb 18, 8:18 AM
    • 6,267 Posts
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    00ec25
    • #6
    • 13th Feb 18, 8:18 AM
    • #6
    • 13th Feb 18, 8:18 AM
    They have not moved in yet and won't do for another few months. I won't do anything unless its legit.
    The housing people know my partner left last year.. it was all done correctly and i'm the only one listed now. I did read somewhere that the tenancy could only be edited once which it was to add me a few years ago..

    So if i got a mortgage, it would have to be a buy to let? What if they wanted to move in with me? I've read that immediate family are allowed to move in with me, which would be the case as its my parents.

    Just looking for some help on this, if its a bad situation then they would have to find somewhere else to go but i was trying to help them out.
    Originally posted by Joe33
    all you are doing is repeating yourself. The following comments are a dose of reality, not a question of being "legit"

    1. you live in social housing as a tenant

    2. that tenancy has already had one "succession" in that it was not originally in your name, you were added to it later. Only one succession is allowed

    3. your parents can live with you but cannot acquire any rights to a tenancy on the property because there is no succession left

    4. if you move out your parents cannot remain there as you cannot retain a social housing tenancy when it is no longer your actual home

    5. you can claim your taxpayer funded bung ("discount") and buy the property if you have the money to do so. You will need to do the RTB whilst still living there yourself.

    6. as you intend not to live there yourself once owning it, you would need a Regulated Buy to Let mortgage which is a special kind of mortgage designed for the circumstances where the tenants who the property is let to are related to the owner and therefore unlikely to be evicted as easily as an unrelated tenant. A regulated BTL is based on the same affordability criteria as used for a non BTL mortgage, ie how much do you earn and how much can you repay

    6. you will remain the owner therefore if you buy another property anywhere else in the Uk you will pay the higher rate SDLT on its purchase and may struggle to get a mortgage since you would need to have enough income to cover 2 repayment mortgages
    Last edited by 00ec25; 13-02-2018 at 8:21 AM.
    • elsien
    • By elsien 13th Feb 18, 8:30 AM
    • 16,201 Posts
    • 40,932 Thanks
    elsien
    • #7
    • 13th Feb 18, 8:30 AM
    • #7
    • 13th Feb 18, 8:30 AM
    Just a thought, but given that your partner/you were lucky enough to be allocated social housing when in need you could always give up the tenancy for some other person, also in need.
    Your parents will have the proceeds from the sale of the shop, and you clearly have somewhere else to go if you're moving out for family to move in, so on the face of it none of you need social housing.
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
    • Cakeguts
    • By Cakeguts 13th Feb 18, 1:29 PM
    • 4,180 Posts
    • 5,908 Thanks
    Cakeguts
    • #8
    • 13th Feb 18, 1:29 PM
    • #8
    • 13th Feb 18, 1:29 PM
    They have not moved in yet and won't do for another few months. I won't do anything unless its legit.
    The housing people know my partner left last year.. it was all done correctly and i'm the only one listed now. I did read somewhere that the tenancy could only be edited once which it was to add me a few years ago..

    So if i got a mortgage, it would have to be a buy to let? What if they wanted to move in with me? I've read that immediate family are allowed to move in with me, which would be the case as its my parents.

    Just looking for some help on this, if its a bad situation then they would have to find somewhere else to go but i was trying to help them out.
    Originally posted by Joe33
    If you buy the property and then rent it to your parents you will need a buy to let mortgage. Most lenders will not give anyone who doesn't own a house that they live in a buy to let mortgage so if you aren't going to live in a house that you buy you are very unlikely to get a buy to let mortgage which means that you can't let it to your parents because a residential (ordinary) mortgage lender won't let you. By won't let you if they find out they can make you repay the whole loan at once so it isn't worth the risk.

    The edited bit means that your parents cannot become tenants. So the only person who has the right to buy this property is you.

    You can buy the property with a mortgage but you can't let it when you have bought it because of the mortgage problem.

    Your parents cannot live there while you are still a tenant unless you live there too with them. You are not allowed to have other people live in your social housing while you live somewhere else.

    In your case there doesn't seem to be a way that you can keep this property and not live there. If you want to keep it you have to carry on living there. If you don't want to live there you need to hand it back to the council or housing association so that they can let it to someone else who doesn't have anywhere to live.
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